UK Consumer Price Index up by 0.6% v expected 0.5%. GBP unmoved by that but inflation watchers monitoring closer for any signs of price moves outstripping forecasts.
Yesterday’s address by Janet Yellen to the Senate Finance Committee was closely watched by markets yesterday and she did not disappoint, urging further economic stimulus assistance to the economy and stating that interest rate rises can wait until the USA is back in recovery mode. “Act big” was her message to the Senate. On the exchange rate Janet Yellen was clear that markets should determine the value of the USD and not foreign central banks. Emboldened by that, the USD duly weakened to 1.2130 v EUR.
We all know that it takes Earth 365 days to complete an orbit around the Sun. Mars on the other hand takes 687 days but at the far end of the orbit scale for planets is Neptune which takes 165 years! With NASA planning the first Moon landing for decades, later this year (once they sort out the white flash that brought their test to a premature end last weekend) space travel and looking up planets is a welcome diversion from the current orbit of restricted lockdown activity.
Today is the 38th anniversary of the now infamous Ozzy Osbourne act of biting the head of a bat during his Brummie band Black Sabbath’s performance in Des Moines, Iowa USA this day in 1982. Even ignoring 2021 Covid awareness implications of eating bats, SGM-FX’s I.T. guru and committed vegan, Michael looked quite faint when some of his headbanging BS fan colleagues were speculating on the circumstances behind this. It’s now time to reassure him that the bat was thrown on stage by a fan and was already dead. Released in August 1970 is this song which defined both Black Sabbath and Ozzie Osbourne, Paranoid:
Finished with my woman
‘Cause she couldn’t help me with my mind
People think I’m insane
Because I am frowning all the time
All day long I think of things
But nothing seems to satisfy
Think I’ll lose my mind
If I don’t find something to pacify
Can you help me occupy my brain?
I need someone to show me
The things in life that I can’t find
I can’t see the things that make true happiness
I must be blind
Make a joke and I will sigh
Discussion and Analysis by Humphrey Percy, Chairman and Founder